Self-Regulatory Organizations; Fixed Income Clearing Corporation; Designation of Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendment No. 1, To Introduce the Margin Liquidity Adjustment Charge and Include a Bid-Ask Charge in the VaR Charges, 63610 [2020-22255]
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63610
Federal Register / Vol. 85, No. 196 / Thursday, October 8, 2020 / Notices
additional detail and clarity on a few
points without materially changing the
proposal or the proposed rule text.22
The Commission notes that Amendment
No. 1 does not change the substance of
the proposed rule change as it was
initially filed, but merely adds detail to
a few select items of the proposal
regarding their intended scope. These
points of clarification add helpful detail
to support the proposal without
materially altering it. Accordingly, the
Commission finds good cause for
approving the proposed rule change, as
amended, on an accelerated basis,
pursuant to Section 19(b)(2) of the
Act.23
VI. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,24 that the
proposed rule change, as modified by
Amendment No. 1 (SR–C2–2020–011),
be, and hereby is, approved on an
accelerated basis.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.25
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–22250 Filed 10–7–20; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–90083; File No. SR–FICC–
2020–009]
Self-Regulatory Organizations; Fixed
Income Clearing Corporation;
Designation of Longer Period for
Commission Action on a Proposed
Rule Change, as Modified by
Amendment No. 1, To Introduce the
Margin Liquidity Adjustment Charge
and Include a Bid-Ask Charge in the
VaR Charges
October 2, 2020.
khammond on DSKJM1Z7X2PROD with NOTICES
On July 30, 2020, Fixed Income
Clearing Corporation (‘‘FICC’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’), pursuant
to Section 19(b)(1) of the Securities
Exchange Act of 1934 (‘‘Act’’) 1 and Rule
19b–4 thereunder,2 proposed rule
change SR–FICC–2020–009 to add two
new charges to FICC’s margin
methodology.3 On August 13, 2020,
22 See supra note 4 for a description of
Amendment No. 1.
23 15 U.S.C. 78s(b)(2).
24 Id.
25 17 CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 FICC also filed the proposals contained in the
proposed rule change as advance notice SR–FICC–
VerDate Sep<11>2014
17:48 Oct 07, 2020
Jkt 253001
FICC filed Amendment No. 1 to the
proposed rule change, to make
clarifications and corrections to the
proposed rule change.4 The proposed
rule change, as modified by Amendment
No. 1, was published for public
comment in the Federal Register on
August 20, 2020,5 and the Commission
received no comments.
Section 19(b)(2) of the Act 6 provides
that, within 45 days of the publication
of notice of the filing of a proposed rule
change, or within such longer period up
to 90 days as the Commission may
designate if it finds such longer period
to be appropriate and publishes its
reasons for so finding or as to which the
self-regulatory organization consents,
the Commission shall either approve the
proposed rule change, disapprove the
proposed rule change, or institute
proceedings to determine whether the
proposed rule change should be
disapproved. The 45th day after
publication of the notice for the
proposed rule change is October 4,
2020.
The Commission is extending the 45day time period for Commission action
on the proposed rule change. The
Commission finds that it is appropriate
to designate a longer period within
which to take action on the proposed
rule change so that it has sufficient time
to consider and take action on the
proposed rule change.
Accordingly, pursuant to Section
19(b)(2) of the Act 7 and for the reasons
stated above, the Commission
designates November 18, 2020 as the
date by which the Commission shall
either approve, disapprove, or institute
proceedings to determine whether to
disapprove proposed rule change SR–
FICC–2020–009.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–22255 Filed 10–7–20; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–90086; File No. SR–
CboeBYX–2020–022]
Self-Regulatory Organizations; Cboe
BYX Exchange, Inc.; Notice of Filing of
Amendment No. 1 and Order Granting
Accelerated Approval of a Proposed
Rule Change, as Modified by
Amendment No. 1, To Amend the Fifth
Amended and Restated Bylaws of the
Exchange’s Parent Corporation, Cboe
Global Markets, Inc.
October 2, 2020.
I. Introduction
On July 30, 2020, Cboe BYX
Exchange, Inc. (the ‘‘Exchange’’) filed
with the Securities and Exchange
Commission (the ‘‘Commission’’),
pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a
proposed rule change to amend the Fifth
Amended and Restated Bylaws (the
‘‘Parent Bylaws’’) of its parent
corporation, Cboe Global Markets, Inc.
(the ‘‘Parent’’). The proposed rule
change was published for comment in
the Federal Register on August 19,
2020.3 The Commission received no
comment letters regarding the proposed
rule change. On September 24, 2020, the
Exchange filed Amendment No. 1 to the
proposal.4 The Commission is
8 17
2020–802 with the Commission pursuant to Section
806(e)(1) of the Dodd-Frank Wall Street Reform and
Consumer Protection Act entitled the Payment,
Clearing, and Settlement Supervision Act of 2010
(‘‘Clearing Supervision Act’’), 12 U.S.C. 5465(e)(1),
and Rule 19b–4(n)(1)(i) of the Act, 17 CFR 240.19b–
4(n)(1)(i).
4 Amendment No. 1 made clarifications and
corrections to the description of the proposed rule
change and Exhibits 3 and 5 of the filing. On August
13, 2020, FICC filed Amendment No. 1 to the
advance notice to make similar clarifications and
corrections to the advance notice.
5 Securities Exchange Act Release No. 89560
(August 14, 2020), 85 FR 51503 (August 20, 2020)
(‘‘Notice’’). The advance notice, as modified by
Amendment No. 1, was published for public
comment in the Federal Register on September 4,
2020. Securities Exchange Act Release No. 89718
(September 1, 2020), 85 FR 55341 (September 4,
2020) (File No. SR–FICC–2020–802). The comment
period for the advance notice, as modified by
Amendment No. 1 closed on September 21, 2020,
and the Commission received no comments.
6 15 U.S.C. 78s(b)(2).
7 Id.
PO 00000
Frm 00111
Fmt 4703
Sfmt 4703
CFR 200.30–3(a)(31).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 89549
(August 13, 2020), 85 FR 51107 (‘‘Notice’’).
4 In Amendment No. 1, the Exchange provided
additional detail and clarity on a few points
without materially changing the proposal or the
proposed rule text. Specifically, in Amendment No.
1, the Exchange: (i) Provided additional support for
its proposed restrictions on the use of audio, video,
and cell phones during stockholder meetings,
including information on past practice by the
Exchange, underlying authority for such restrictions
in the current Parent Bylaws, and comparison to the
practices of other Delaware-incorporated public
companies; (ii) clarified that the provisions of
proposed Section 3.15 are subject to existing
Section 10.2, including a representation that
emergency Bylaw amendments made pursuant to
proposed Section 3.15(g) may need to be filed
pursuant to Section 19 of the Exchange Act; (iii)
clarified that proposed Section 3.15 is meant to
provide short-term flexibility to continue operations
during the initial stage of an emergency situation,
and that proposed paragraph (f) makes clear that,
as soon as it is practicable for a majority of the
1 15
E:\FR\FM\08OCN1.SGM
08OCN1
]]>Agencies
[Federal Register Volume 85, Number 196 (Thursday, October 8, 2020)]
[Notices]
[Page 63610]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-22255]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-90083; File No. SR-FICC-2020-009]
Self-Regulatory Organizations; Fixed Income Clearing Corporation;
Designation of Longer Period for Commission Action on a Proposed Rule
Change, as Modified by Amendment No. 1, To Introduce the Margin
Liquidity Adjustment Charge and Include a Bid-Ask Charge in the VaR
Charges
October 2, 2020.
On July 30, 2020, Fixed Income Clearing Corporation (``FICC'')
filed with the Securities and Exchange Commission (``Commission''),
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ proposed rule change SR-
FICC-2020-009 to add two new charges to FICC's margin methodology.\3\
On August 13, 2020, FICC filed Amendment No. 1 to the proposed rule
change, to make clarifications and corrections to the proposed rule
change.\4\ The proposed rule change, as modified by Amendment No. 1,
was published for public comment in the Federal Register on August 20,
2020,\5\ and the Commission received no comments.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ FICC also filed the proposals contained in the proposed rule
change as advance notice SR-FICC-2020-802 with the Commission
pursuant to Section 806(e)(1) of the Dodd-Frank Wall Street Reform
and Consumer Protection Act entitled the Payment, Clearing, and
Settlement Supervision Act of 2010 (``Clearing Supervision Act''),
12 U.S.C. 5465(e)(1), and Rule 19b-4(n)(1)(i) of the Act, 17 CFR
240.19b-4(n)(1)(i).
\4\ Amendment No. 1 made clarifications and corrections to the
description of the proposed rule change and Exhibits 3 and 5 of the
filing. On August 13, 2020, FICC filed Amendment No. 1 to the
advance notice to make similar clarifications and corrections to the
advance notice.
\5\ Securities Exchange Act Release No. 89560 (August 14, 2020),
85 FR 51503 (August 20, 2020) (``Notice''). The advance notice, as
modified by Amendment No. 1, was published for public comment in the
Federal Register on September 4, 2020. Securities Exchange Act
Release No. 89718 (September 1, 2020), 85 FR 55341 (September 4,
2020) (File No. SR-FICC-2020-802). The comment period for the
advance notice, as modified by Amendment No. 1 closed on September
21, 2020, and the Commission received no comments.
---------------------------------------------------------------------------
Section 19(b)(2) of the Act \6\ provides that, within 45 days of
the publication of notice of the filing of a proposed rule change, or
within such longer period up to 90 days as the Commission may designate
if it finds such longer period to be appropriate and publishes its
reasons for so finding or as to which the self-regulatory organization
consents, the Commission shall either approve the proposed rule change,
disapprove the proposed rule change, or institute proceedings to
determine whether the proposed rule change should be disapproved. The
45th day after publication of the notice for the proposed rule change
is October 4, 2020.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------
The Commission is extending the 45-day time period for Commission
action on the proposed rule change. The Commission finds that it is
appropriate to designate a longer period within which to take action on
the proposed rule change so that it has sufficient time to consider and
take action on the proposed rule change.
Accordingly, pursuant to Section 19(b)(2) of the Act \7\ and for
the reasons stated above, the Commission designates November 18, 2020
as the date by which the Commission shall either approve, disapprove,
or institute proceedings to determine whether to disapprove proposed
rule change SR-FICC-2020-009.
---------------------------------------------------------------------------
\7\ Id.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
---------------------------------------------------------------------------
\8\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-22255 Filed 10-7-20; 8:45 am]
BILLING CODE 8011-01-P
